ForexLive European FX news wrap: Dollar steady ahead of the main events later today

<p>Headlines:</p><ul><li><a href="https://www.forexlive.com/news/plenty-of-big-events-still-to-come-on-the-week-20231101/">Plenty of big events still to come on the week</a></li><li><a href="https://www.forexlive.com/news/verbal-intervention-keeps-yen-from-falling-further-at-least-for-now-20231101/">Verbal intervention keeps yen from falling further, at least for now</a></li><li><a href="https://www.forexlive.com/centralbank/bank-of-japan-to-conduct-unscheduled-bond-buying-operation-tomorrow-20231101/">Bank of Japan to conduct unscheduled bond buying operation tomorrow</a></li><li><a href="https://www.forexlive.com/news/one-of-japans-biggest-banks-have-raised-its-deposit-rates-for-the-first-time-in-12-years-20231101/">One of Japan's biggest banks have raised its deposit rates for the first time in 12 years</a></li><li><a href="https://www.forexlive.com/news/uk-october-final-manufacturing-pmi-448-vs-452-prelim-20231101/">UK October final manufacturing PMI 44.8 vs 45.2 prelim</a></li><li><a href="https://www.forexlive.com/news/uk-october-nationwide-house-prices-09-vs-04-mm-expected-20231101/">UK October Nationwide house prices +0.9% vs -0.4% m/m expected</a></li><li><a href="https://www.forexlive.com/news/switzerland-october-manufacturing-pmi-406-vs-450-expected-20231101/">Switzerland October manufacturing PMI 40.6 vs 45.0 expected</a></li><li><a href="https://www.forexlive.com/news/us-mba-mortgage-applications-we-27-october-21-vs-10-prior-20231101/">US MBA mortgage applications w.e. 27 October -2.1% vs -1.0% prior</a></li></ul><p>Markets:</p><ul><li>JPY leads, EUR lags on the day</li><li>European equities marginally lower; S&amp;P 500 futures down 0.4%</li><li>US 10-year yields up 3 bps to 4.905%</li><li>Gold flat at $1,983.54</li><li>WTI crude up 2.0% to $82.65</li><li>Bitcoin down 0.7% to $34,425</li></ul><p>It was a more tentative session as we turn the calendar month to November. With the two big events today still to come i.e. FOMC meeting and US Treasury quarterly refunding announcement, markets are looking rather tentative and stocks more cautious.</p><p>Equities ended October with a decent showing in the past two days but are being pinned down today. US futures are down around 0.4% and that has turned the mood in Europe as well, after starting the day with decent gains.</p><p>Treasuries remain more tentative although yields are slightly higher, awaiting the key risk event later.</p><p>In the FX market, verbal intervention by Tokyo is at least helping to stem the bleeding in the yen but not by much. USD/JPY is down 0.3% to 151.22, holding at similar levels since the end of Asia trading.</p><p>Meanwhile, the dollar itself is keeping steadier and slightly firmer against the euro and pound. The sluggish mood in stocks might have something to do with that, as EUR/USD is down 0.3% to 1.0542 currently.</p><p>In other markets, gold is flattish at around $1,983 after yesterday's drop while oil is bouncing back a little with WTI crude up 2% to $82.65 currently. The latter owes to a bounce off its 100-day moving average though, as both commodities look to back off amid easing geopolitical tensions in the Middle East.</p><p>Next up, the ADP employment report before we get into the mix of things in US trading.</p>

This article was written by Justin Low at www.forexlive.com.